GAO-03-857R Big Brothers-Big Sisters of America 

United States General Accounting Office

Washington, DC 20548 

June 5, 2003 

The Honorable F. James Sensenbrenner, Jr. 

Chairman, Committee on the Judiciary 

House of Representatives 

Subject: Federally Chartered Corporation: Review of the Financial Statement Audit 

Reports for the Big Brothers-Big Sisters of America for Fiscal Years 2002 

and 2001

Dear Mr. Chairman: 

As requested, we reviewed the audit reports covering the financial statements of the 

Big Brothers-Big Sisters of America, a federally chartered corporation, for the fiscal 

years ended March 31, 2002 and 2001. The corporation’s purpose is to make a 

positive difference in the lives of children and youth, primarily through a 

professionally supported one-to-one relationship with a caring adult, and to assist 

them in achieving their highest potential. 

Federally chartered corporations are required under 36 U.S.C. 10101 to 

• present the corporation’s assets and liabilities and reasonable detail on the 

corporation’s income and expenses in annual financial statements, and 

• obtain an annual financial audit by an independent public accountant. 

The objective of our review was to determine whether the audit reports complied 

with the financial reporting requirements of the law. In carrying out our work, we 

reviewed the corporation’s financial statements and the accompanying notes, 

performed certain analytical procedures related to information presented in the 

financial statements, and reviewed the auditors’ reports. However, we did not review 

the auditors’ working papers, and we are not rendering an audit opinion. Our review 

disclosed no reportable instances of noncompliance with the financial reporting 

requirements of the law. 
GAO-03-857R Big Brothers-Big Sisters of America Page 2

The audit reports included the auditors’ opinions that the financial statements of the 

corporation were presented fairly in accordance with generally accepted accounting 

principles. We are returning the audit reports you sent with your letter. 

Sincerely yours, 

Jeanette M. Franzel 

Director 

Financial Management and Assurance 

Enclosures 

(194226) 
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